Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

OSU's FooDS Surveyors Wonder, Just How Much Will Consumers Pay for Beef and Pork Products?

Wed, 22 Nov 2017 16:33:42 CST

OSU's FooDS Surveyors Wonder, Just How Much Will Consumers Pay for Beef and Pork Products? Oklahoma State Universityís Agricultural Economics Department released the summary report of the November 2017 edition of the Food Demand Survey (FooDS) this week. According to it, willingness-to-pay (WTP) decreased for all food products. WTP for deli ham saw the largest percent decrease among meat products compared to one month ago. WTP for all products, except rice and beans, reached its lowest point since the beginning of FooDS in May 2013.

Expenditures on food eaten at home decreased 1.42% from October to November and expenditures on food purchased away from home decreased 5.84%. Consumers expect a slight decrease in beef and pork prices and a slight increase in chicken prices compared to one month ago. Consumers plan to buy less chicken, beef, and pork compared to last month. Plans to eat out decreased compared to last month.

Taste, safety, and price remained consumersí most important values when purchasing food this month. Consumersí food values remained similar to those in past months. Similar to last month, consumers reported that their main challenge was finding affordable foods that fit within their budget. Avoiding pesticides, hormones, and antibiotics was the challenge experiencing the largest percent increase, while finding convenient alternatives experienced the largest percent decrease. In November, about 4% of participants reported having food poisoning, a 37% decrease from last month. About 4% of respondents reported being vegetarian or vegan.

Several new ad hoc questions were added to this monthís survey relating to consumerís WTP for pork and beef products and sustainability.

To test this, individuals were asked whether they would purchase pork chops and beef steak at various prices, and were allowed to indicate their agreement on a scale of 1-100. The rating scale estimated a higher value for pork chops but a lower value for beef steak. Respondents answers were also compared to the values of a relative choice experiment, of which the rating scale estimated a pork chop value that was 11% higher, and a beef steak value that was 3% lower.

Next, respondents were asked about the factors they consider most important to determining food sustainability.

The authors of this survey say that perhaps the major take-away from the results of this survey, is that global warming is considered the least important part of food sustainability.

To take a look at the complete summary report of this monthís edition of the FooDS Survey for more highlights, click or tap here.

Source - Oklahoma State University



WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Slaughter Cows and Bulls Sell Steady to 3.00 Lower on Monday at OKC West Livestock Auction  Mon, 16 Jul 2018 17:58:56 CDT
  • US Corn and Soybean Crops Continue Remarkable Progress as Pasture Conditions Begin to Falter  Mon, 16 Jul 2018 17:46:22 CDT
  • Monday Market Wrap-Up with Justin Lewis  Mon, 16 Jul 2018 15:20:00 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Monday, July 16, 2018  Mon, 16 Jul 2018 14:52:31 CDT
  • Monday Afternoon Market Wrap-Up with Carson Horn  Mon, 16 Jul 2018 14:02:51 CDT
  • Nearly $2 Billion Now Available for Eligible Producers Affected by 2017 Hurricanes and Wildfires  Mon, 16 Jul 2018 12:46:33 CDT
  • Rural Healthcare to Receive Financial Boost from Federal Communications Commission  Mon, 16 Jul 2018 12:40:43 CDT
  • Noble Research Institute to Host Grazing Workshop Featuring Cover Crop Integration Demonstrations  Mon, 16 Jul 2018 12:32:46 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.